Unifirst Corporation (NYSE:UNF) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Friday, December 8th will be given a dividend of 0.0375 per share by the textile maker on Friday, January 5th. This represents a $0.15 annualized dividend and a yield of 0.10%.

Unifirst Corporation has raised its dividend by an average of 10.1% per year over the last three years. Unifirst Corporation has a payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Unifirst Corporation to earn $5.68 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 2.6%.

Shares of Unifirst Corporation (UNF) opened at 156.05 on Tuesday. Unifirst Corporation has a 1-year low of $118.70 and a 1-year high of $160.62. The stock has a market capitalization of $3.16 billion, a PE ratio of 28.75 and a beta of 0.70. The firm has a 50-day moving average of $150.25 and a 200 day moving average of $142.32.

Unifirst Corporation (NYSE:UNF) last released its quarterly earnings results on Wednesday, October 18th. The textile maker reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.20. The company had revenue of $403.60 million for the quarter, compared to the consensus estimate of $392.15 million. Unifirst Corporation had a net margin of 4.40% and a return on equity of 7.53%. Unifirst Corporation’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Analysts predict that Unifirst Corporation will post $5.31 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Unifirst Corporation Announces Quarterly Dividend of $0.04 (UNF)” was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/10/24/unifirst-corporation-announces-quarterly-dividend-of-0-04-unf.html.

A number of research firms recently issued reports on UNF. Zacks Investment Research raised shares of Unifirst Corporation from a “hold” rating to a “buy” rating and set a $162.00 price target on the stock in a research note on Wednesday, September 6th. Northcoast Research reaffirmed a “neutral” rating on shares of Unifirst Corporation in a research note on Thursday, October 19th. Robert W. Baird raised shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $145.00 to $163.00 in a research note on Thursday, June 29th. Finally, BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $165.00.

Unifirst Corporation Company Profile

UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.

Dividend History for Unifirst Corporation (NYSE:UNF)

Receive News & Ratings for Unifirst Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unifirst Corporation and related companies with MarketBeat.com's FREE daily email newsletter.